Congress Admits Government Caused Mortgage Meltdown

Discussion in 'Politics' started by carpro, Jul 13, 2009.

  1. carpro

    carpro
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    http://blog.heritage.org/wp-content/uploads/2009/07/7-7-09-housing-crisis-report.pdf


    This Congressional report is being almost completely ignored by the corrupt old media.
     
  2. Revmitchell

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    Bingo!...................
     
  3. carpro

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    Have you seen a reference to this report anywhere in the corrupt old media?

    At all?
     
  4. billwald

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    Agree! Congress permitted greedy Americans to make foolish economic choices.

    Sorry, forgot that it isn't the responsibility of Congress to limit greedy and foolish economic activity. Congress should only limit foolish moral decisions, booze, pot, chasing women . . . .
     
  5. Bro. Curtis

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  6. Revmitchell

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    "Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn't quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983. (See 10 ways your job will change.)

    The two advisers who wrote the paper, Christina Romer and Jared Bernstein, went on to land key jobs in the Obama Administration. Romer is the head of Obama's Council of Economic Advisers, and Bernstein is the chief economist and economic-policy adviser to Vice President Joe Biden. And the stimulus bill that both economists championed became law in mid-February. What has not come to pass, however, is the boom in job creation that Romer and Bernstein predicted. A little over a month ago, the Administration said the stimulus bill had created or saved 150,000 jobs. That's a far cry from the 3 million to 4 million jobs that Romer and Bernstein foresaw back in January."
     
  7. carpro

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    I couldn't find where the Time article addressed the Congressional report that is the subject of the thread.
     
  8. Bro. Curtis

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    I think I posted it in the wrong thread.....
     
  9. alatide

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    This is strictly partisan politics as usual by the corrupt old Republican party.

    http://en.wikipedia.org/wiki/United_States_House_Committee_on_Oversight_and_Government_Reform

    On July 8, 2009 the Committee Republicans released an investigative staff report [20] discussing the financial collapse of 2008-2009. The report alleges that the government was the cause of the collapse, due what it described as government meddling in the United States housing and lending market in the name of "affordable housing".
     
  10. Revmitchell

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    Oh you mean like hiding 90,000 in the freezer, pay to play politics in Chicago, a wife who is a counselman and takes bribes, or lies about an affair to a grand jury and gets disbarred while a sitting President.
     
  11. carpro

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    Pay attention. Using a source whose information is subject to change by the next person that wants to take the time to do it is risky. Wiki is dominated by left wing contributors.

    It was authored by a bipartisan congressional committee, the majority of whom are democrats.

    Members of the Committee on Oversight and Government Reform
    Democrats
    Chairman, Edolphus Towns, New York
    Rep. Paul E. Kanjorski, Pennsylvania
    Rep. Carolyn B. Maloney, New York
    Rep. Elijah E. Cummings, Maryland
    Rep. Dennis J. Kucinich, Ohio
    Rep. John F. Tierney, Massachusetts
    Rep. Wm. Lacy Clay, Missouri
    Rep. Diane E. Watson, California
    Rep. Stephen F. Lynch, Massachusetts
    Rep. Jim Cooper, Tennessee
    Rep. Gerry Connolly, Virginia
    Rep. Mike Quigley, Illinois
    Rep. Marcy Kaptur, Ohio
    Rep. Eleanor Holmes Norton, District of Columbia
    Rep. Patrick Kennedy, Rhode Island
    Rep. Danny Davis, Illinois
    Rep. Chris Van Hollen, Maryland
    Rep. Henry Cuellar, Texas
    Rep. Paul W. Hodes, New Hampshire
    Rep. Christopher S. Murphy, Connecticut
    Rep. Peter Welch, Vermont
    Rep. Bill Foster, Illinois
    Rep. Jackie Speier, California
    Rep. Steve Driehaus, Ohio

    Republicans
    Rep. Darrell Issa, California, Ranking Minority Member
    Rep. Dan Burton, Indiana
    Rep. John M. McHugh, New York
    Rep. John L. Mica, Florida
    Rep. Mark E. Souder, Indiana
    Rep. John J. Duncan, Jr., Tennessee
    Rep. Michael Turner, Ohio
    Rep. Lynn A. Westmoreland, Georgia
    Rep. Patrick T. McHenry, North Carolina
    Rep. Brian Bilbray, California
    Rep. Jim Jordan, Ohio
    Rep. Jeff Flake, Arizona
    Rep. Jeff Fortenberry, Nebraska
    Rep. Jason Chaffetz, Utah
    Rep. Aaron Schock, Illinois
     
    #11 carpro, Jul 15, 2009
    Last edited by a moderator: Jul 15, 2009
  12. carpro

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    :laugh: And I thought I had somehow missed it.
     
  13. LeBuick

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    What does the housing bubble have to do with the president? How does any of this make Obama a disaster?
     
  14. carpro

    carpro
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    You needed to read a couple more posts before you posted and you would have had your answer.

    You probably do by now.
     
  15. LeBuick

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    Why is it I can't find this report on congresses site?

    Here is their site http://oversight.house.gov/

    I don't even see this on their docket http://oversight.house.gov/investigations.asp

    Now I notice this story is clear on the minority or GOP site http://republicans.oversight.house.gov/

    One of those things that makes you go HHhhmm??

    Now look at this sentence in the first paragraph "which privatized their
    profits but socialized their risks".

    And the reports put the entire blame on Fannie and Freddie. I think there is more to this report once the layers get peeled away so I will wait to pass judgment. I will say there is no way a bi-partisan committee of congress produced this report.
     
  16. LeBuick

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    Patience my good man... No need hoping American fails just to be right, the money is in the pipe and there is no stopping it now. If the stimulus works Obama will get 4 more years. If it fails he won't. One of us can say I told you so in 4 years...
     
  17. Revmitchell

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    Man is it getting windy in here.
     

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